Last year marked the fifth straight year of growth in total charitable giving. The report credits a "healthier American economy" for the 7.1% increase in giving in 2014.

Among the findings:

Individual giving increased by 5.7% over 2013. (This jump made the greatest impact, accounting for 58% of last year's total growth in donations.)

Foundation giving was up 8.2%.

Corporate philanthropy increased 13.7% over 2013 totals.

"While circumstances vary from organization to organization, it appears that the nonprofit sector overall can at last focus on expanding giving rather than regaining lost ground," said Amir Pasic, dean of the Lilly Family School of Philanthropy at Indiana University, in a statement.

Where are Americans most likely to donate their money? The report covers charitable donations based on nine categories: Religion, education, human services, health, arts and humanities, environment, public-society benefit, foundations and international affairs.

Religious organizations continue to receive the most charitable support, earning $114.9 billion in 2014. However, the report stipulates that giving to religion's decline over time as a share of overall philanthropy "reflects that fewer Americans currently identify with a religion, attend worship services or give to houses of worship."